Saturday, January 04, 2014

An international (New York, Paris, London) consortium of bankers has loaned money to Mexico to prevent it defaulting on its bonds, but what will it do if, as seems inevitable, Mexico defaults in the future? Since the 1910 and 1913 loans were secured by 62% and 38% of Mexican customs duties respectively, the bankers seem to think it would be incumbent on their nations to land troops to collect those duties. The French government, at least, seems to feel no such obligation to the bankers.

A court in Oregon enjoins the militia from holding the town of Copperfield under martial law (imposed by the prohibitionist governor to enforce the closing of saloons). The sheriff forms a volunteer posse to resist martial law.

The British Tory press has taken to referring to those Liberals who oppose increasing spending to build new battleships the “Suicide Club.”

The other big issue in British newspapers lately, evidently, is a spat over Christian missionary work in Kenya. Worried about the inroads Islam is making against Christianity, the Anglican bishops of Mombassa and Uganda held a meeting of missionaries. Since it included Baptists, Methodists and the like, the Bishop of Zanzibar is accusing them of heresy. This is the sort of thing that kept the letter columns of The Times of London filled.